Some of the best tips for business pitch development are actually the simplest. Ironically, wooing possible clients or funders is often more about sticking to the core idea and not glamming up what you have on offer. Take a look at our set of dos and don’ts.
- It’s okay to be excited
When most entrepreneurs are starting out, they want to walk the walk and talk the talk. And while there’s nothing wrong with tips for business pitch creation where people tell you to look professional, the reality is that investors are looking for the fire. What about your idea is so great that they should not waste a heartbeat before giving you funding? Bring your passion for your idea to the pitching that you do.
- Don’t be desperate
When anyone is looking for investors, what they are thinking of doing is getting the most out of the money they put into something. If you have been shopping for investors for a while, or even if you’re just starting out, you might give tips for business pitches on where you should go with what you seek. And this is how people end up giving away too much equity or walking away with too little funding. The reality is that business funding is a little like finding love, don’t be desperate and get the ball rolling on the wrong deal. Show your potential funders that you believe in your idea and won’t be taking a weak deal.
- Hit your deadline before the deadline
There’s nothing like a good adrenaline rush when we’re working on hammering down the right pitch. Some people get high off the things they get done in the 11th hour. Heck, some might even say their hot tips for business pitch include letting adrenaline get the best out of you. But the reality is that there’s no greater mistake than hitting the pitch for updates, additions, or changes in the last day or two before your actual pitch. This is not the time for tweaks; it’s the time to practise your speech and think of all the questions you’re going to be asked.
- Don’t crowd the table
You are not Arthur, and a round table is not needed. Bring the best people on your team to do the talking with you and no one else. Larger pitch teams are not a part of any tips for business pitch creation that we’ve ever seen. If you have 15 people working on the idea, that’s great, but the only people you need in the meeting with you are the ones that can effectively answer questions and simultaneously sweet talk the investors. This is not the time to be fair, it’s the time to be smart, concise, and precise with your pitch.
- Pitch to the audience
This is one of our favourite tips for business pitching because it really helps entrepreneurs understand their own product better too. One good or service is perceived and used differently by different customers, and your pitch needs to account for that. A pair of designer shoes are sold differently to teenagers as opposed to someone in their late 20s. It’s the same for funders. Do your research, understand their priorities, and then sell them an idea they can’t live without. Your idea should seem like it will fit into their agenda organically.
- Don’t talk AT your client
Your pitch needs to be designed in a way that encourages the person you’re pitching to engage with your idea. Don’t walk in with a lecture that bores them. Practice with your team, your family, and friends. If you have a focus group or existing clients, then even better, practise on them before you talk to someone you’re hoping will invest. If the person you’re pitching to can interact with the idea, they can feel like they’re a part of it. Tips for business pitches often focus too much on the idea and not enough on the clients they are meant for. Don’t make that mistake.
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